Averi Finance forms a joint venture for renewables in SA

• South Africa's electricity market has attracted numerous private-sector investments, including banks, energy companies, and other financing and investment platforms. 

• A significant electricity market deficit exists due to ageing coal power plants not operating at full capacity and increasing demand as the economy rebounds post-COVID-19 slowdown.

• Our take: South Africa's energy market demand calls for larger projects, which require substantial funding that only well-established companies can manage… Read more (2 min)

Nigerian state to build 300 MW of solar

• The Nigerian electricity market experiences one of the worst blackout rates in Africa. According to the National Bureau of Statistics, Nigerian households experience an average of 6.7 electricity blackouts weekly, with each outage lasting 12 hours.

• States, businesses, and individuals are adopting solar energy. Adamawa State joins others, like Lagos and Niger, that plan to install solar plants.

• Our take: The severe electricity challenges faced by Nigeria demand more than just national-level solutions… Read more (2 min)

Development Bank of Namibia invests $53m in renewables

• Traditional African energy investment has focused on big economies like South Africa, Egypt and Morocco. The focus has moved from not only targeting internal market size but also exports and now resource-rich countries like Namibia are attracting big investments targeting export markets.

• Namibia is investing heavily in gigascale renewable energy projects. Its green hydrogen project will cost $10 billion, almost the size of its GDP.

• Our take: Smart money follows resources, not just populations. Namibia is a prime example.… Read more (2 min)

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